Singapore sharply lifted its annual growth forecast for 2026 to between 4.5% and 5.5%, more than double the lower end of its previous 2% to 4% projection. The Ministry of Trade and Industry attributed the revision to a stronger-than-expected first-half performance and a boost from AI-related sectors and exports. The economic impact of the U.S-Iran conflict proved less severe than feared, as oil inventory drawdowns and substitution to alternative energy sources capped global energy price rises. The Monetary Authority of Singapore tightened monetary policy in late July, with core inflation rising to 1.6% in June from 1.4% in May, headline inflation standing at 1.9%.
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